Political Quotes

“I don't disagree with anything that the gentleman just said. I happen to agree that Congress should exercise its responsibility every time, but I also understand and I also agree that we have empowered various agencies across the government to take action on their own. We agree that the SEC has current action; and I would argue very clearly that this amendment, this bill, doesn't change the SEC's authority. If they would come out with a ruling tomorrow that defined ``beneficial owner'' or ``owner of record'' in a different way--that they're fully authorized to do so--all this amendment does is suggest that they do, actually requires them to do so one way or the other. Even if they disagree with me, this doesn't direct them to agree with me. This simply directs them to act if they determine that they should. I would also argue very clearly that if that's the determination that they make, that they will act anyway, and that's the way it should be. That's all this amendment does is try to draw a big bold line under a potential massive loophole that could be utilized by not necessarily most people but by a few nefarious people who might intend to defraud people, and that's all this is intended to do--close one more door that can be used by people that should be used. I yield back the balance of my time.”